[23 Local loans made by the Treasury]
Housing Act 1996 (1996 c 52) | Legislation

[23  Local loans made by the Treasury]

(1)     The [Treasury] may lend money to a registered social landlord—

(a)     for the purpose of constructing or improving, or facilitating or encouraging the construction or improvement, of dwellings,

(b)     for the purchase of dwellings which the landlord desires to purchase with a view to their improvement, and

(c)     for the purchase and development of land.

(2)     A loan for any of those purposes, and interest on the loan, shall be secured by a mortgage of—

(a)     the land in respect of which that purpose is to be carried out, and

(b)     such other lands (if any) as may be offered as security

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